Duff & Phelps Investment Management Co. Decreases Stock Position in DTE Energy (NYSE:DTE)

Duff & Phelps Investment Management Co. reduced its position in DTE Energy (NYSE:DTE) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 796,847 shares of the utilities provider’s stock after selling 110,498 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in DTE Energy were worth $96,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in DTE Energy during the third quarter valued at about $30,000. Versant Capital Management Inc raised its stake in shares of DTE Energy by 890.0% in the 4th quarter. Versant Capital Management Inc now owns 297 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 267 shares during the period. Robbins Farley acquired a new position in shares of DTE Energy in the fourth quarter worth $57,000. Kestra Investment Management LLC purchased a new position in shares of DTE Energy in the 4th quarter valued at about $57,000. Finally, Brooklyn Investment Group purchased a new position in shares of DTE Energy during the third quarter worth approximately $83,000. 76.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DTE Energy

In other news, CAO Tracy J. Myrick sold 1,014 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.92, for a total value of $131,738.88. Following the completion of the transaction, the chief accounting officer now owns 3,437 shares in the company, valued at approximately $446,535.04. This represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Matthew T. Paul sold 3,801 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $129.56, for a total value of $492,457.56. Following the completion of the transaction, the chief operating officer now directly owns 6,951 shares in the company, valued at approximately $900,571.56. This trade represents a 35.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,877 shares of company stock valued at $1,559,205 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

DTE has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of DTE Energy from $137.00 to $147.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Morgan Stanley boosted their price target on shares of DTE Energy from $131.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. KeyCorp cut DTE Energy from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, December 4th. StockNews.com raised DTE Energy from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, BMO Capital Markets boosted their price target on shares of DTE Energy from $125.00 to $135.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.58.

DTE Energy Price Performance

Shares of DTE stock opened at $135.17 on Friday. The stock has a fifty day simple moving average of $128.59 and a two-hundred day simple moving average of $125.17. The company has a current ratio of 0.71, a quick ratio of 0.46 and a debt-to-equity ratio of 1.77. DTE Energy has a twelve month low of $103.06 and a twelve month high of $138.22. The stock has a market capitalization of $28.05 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.41 and a beta of 0.59.

DTE Energy (NYSE:DTE) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. DTE Energy had a return on equity of 12.42% and a net margin of 11.27%. On average, analysts predict that DTE Energy will post 7.18 EPS for the current fiscal year.

DTE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $1.09 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 3.23%. DTE Energy’s dividend payout ratio (DPR) is presently 64.40%.

DTE Energy Profile

DTE Energy Company engages in the utility operations. The company's Electric segment generates, purchases, distributes, and sells electricity to various residential, commercial, and industrial customers in southeastern Michigan. It generates electricity through coal-fired plants, hydroelectric pumped storage, and nuclear plants, as well as wind and solar assets.